NPP MP 'hot' over GH¢10.5 million insurance debt

New Patriotic Party’s (NPP) Member of Parliament (MP) for Tema Central, Yves Hanson-Nortey is under fire over non-payment of insurance debt to Star Assurance Company Limited to the tune of GH¢10.5 million.

The actions and inactions of Mr. Hanson-Nortey and his company APEX Petroleum ABD led to the debt after obtaining an insurance bond from the insurance company in 2018.

Despite assurances on top of an out-of-court settlement granted after entering into an agreement to pay a negotiated sum of GH¢10.5 million out of the GH¢22.5 million, the NPP MP and his company have failed to honour the agreement.

The plaintiff—Star Assurance Company Limited, in its Statement of Case, filed at the Commercial Division of the High Court in Accra stated that, in October 2018 it had issued a customs bond to the first defendant ( APEX Petroleum ABD) to cater for cost it had incurred on petroleum products it imported for distribution and sale, which amounted to GH¢10,000,000.00.

But, due to false representations from the first and second defendants, (APEX Petroleum ABD and the MP), Starr Assurance (Plaintiff) has incurred a debt to the Ghana Revenue Authority.

The Plaintiff further stated that, the 1st and 2nd Defendants have also failed and/or refused to make good the default of the 1st Defendant in terms of the conditions precedent to the issuing of the bond to the plaintiff.

“Plaintiff says that as at the 2nd day of June, 2021 1st Defendant was indebted to the Plaintiff in the sum of Twenty – Two Million Five Hundred Thousand Ghana Cedis (GH¢22,500,000.00),” the Plaintiff stated.

Plaintiff’s claims

Upon several attempts to get its money from the Defendants failed, the Plaintiff initiated an action as the Court and claims against 1st and 2nd Defendants jointly and severally as follows:

“Recovery of the sum of Twenty-Two Million Five Hundred Thousand Ghana Cedis (GH¢22,500,000.00) being money to be paid by Plaintiff to Ghana Revenue Authority as a result of 1st Defendant’s failure to pay its taxes and levies owed to Ghana Revenue Authority and which amount the Defendants have failed and/or refused to pay in spite of several and repeated demands made therefore.

“Interest on the said amount at the prevailing Commercial bank rate payable monthly in arrears from the 21st day of February, 2021 to date of final payment,” the Plaintiff stated.

The Plaintiff is also seeking damages and costs including legal fees.

Consent judgement

Following the Court action, the 2nd Defendants approached the Plaintiff and resolved to settle the matter out of Court.

Following assurances and commitment to settle the case, agreed with the Plaintiff to pay GH¢10.5 million which was adopted by the Court as a consent judgement.

Despite, that Consent judgement, the MP and his company have refused to Honour their part of the bargain and is currently being sought after by the insurance Company.

In June 22, Justice Akua Sarpomaa Amoah adopted the terms of settlement and adopted same as a Consent judgement.

“The following Terms of Settlement filed on 3rd June, 2022 and duly executed by the Parties and their respective Counsel are hereby adopted as Consent Judgement of this Court,” the Judge stated.